Gold May Surpass U.S. Treasuries as the Top Official Reserve Asset

Odaily Planet Daily News: According to foreign media reports, driven by the surge in gold prices over the past year and active purchases by central banks, gold is expected to surpass U.S. Treasury bonds to become the largest reserve asset held by foreign governments in the United States. According to data released this month by the World Gold Council, the total official gold reserves held globally outside the U.S. exceeded 900 million troy ounces (data for most countries was collected as of the end of November, while a small number of countries' data was collected as of the end of October). At the gold price on November 30, this is equivalent to $3.82 trillion in gold. In comparison, as of October, the value of long-term and short-term U.S. Treasury bonds held by foreign governments in the U.S. was close to $3.88 trillion. Assuming the central banks' gold reserves remain unchanged by year-end, and calculated at the year-end price, the value of the global official gold reserves held outside the U.S. would reach $3.93 trillion, surpassing the scale of U.S. Treasury bonds held by foreign official entities.